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Search Results 0 to 49 of about 515 (some duplicates have been removed)
CSPAN
Feb 6, 2013 1:00am EST
deficit, and these are decisions that will have real and lasting impacts on the strength and pace of our recovery. economists and business leaders from across the spectrum have said that our economy is poised for progress in 2013. and we've seen signs of this progress over the last several weeks. home prices continue to climb. car sales are at a five-year high. manufacturing has been strong. and we've created more than six million jobs in the last 35 months. but we've also seen the effects that political dysfunction can have on our economic progress. the drawn-out process for resolving the fiscal cliff hurt consumer confidence. the threat of massive automatic cuts have already started to affect business decisions. so we've been reminded that while it's critical for us to cut wasteful spending, we can't just cut our way to prosperity. deep, indiscriminate cuts to things like education and training, energy and national security will cost us jobs, and it will slow down our recovery. it's not the right thing to do for the economy. it's not the right thing for folks who are out there still lo
CSPAN
Feb 5, 2013 5:00pm EST
deficit will be under $1 trillion for the first time since president obama took office. the c.b.o. also estimates the economy will grow 1.4% this year with unemployment remaining around 8%. c.b.o. director sat down with reporters this afternoon to discuss the economic and budget forecast. >> hello. thank you all for coming. i'm the director of the budget office. c.b.o. just released its outlook for the federal budget and the economy over the next decade. i'd like to tell you a little bit about if and then my colleagues and i will be happy to take your questions. our analysis shows that the united states continues to face very large economic and budget challenges. under current law we expect that the unemployment rate will remain above 7.5% through next year. that would make 2014 the sixth year in a row with unemployment so high. the longest such period in 70 years. also under current law, we expect the budget deficits over the next decade would total about $7 trillion. with deficits so high, the federal debt held by the public would remain a larger percentage of g.d.p. as in any year be
CSPAN
Feb 6, 2013 10:00am EST
the real question here is, how do we reduce our deficits in a way that does not hurt the economy right now, but does make sure that as the economy improves that public spending is not -- and deficit spending is not squeeze the out by private investment. for the last couple years the problem has been opposite. we have seen less private investment, so the moneys the federal government has spent have been very important to helping the economy from going into free fall. . there is no doubt that we have to deal with the balanced approach and that's where the debate lies in how we should do that. again, our republican colleagues have said no to the balanced approach. they said no to the plan that we offered to prevent the sequester. they wouldn't allow a vote on the plan we offered to prevent the sequester that's going to hit on march 1 and which our republican colleagues in statement after statement on this floor have said is going to hurt the economy and which we know from the last quarter's economic report is already hurting the economy just because businesses are anticipating the possibility
FOX Business
Feb 5, 2013 1:00pm EST
melissa francis. lori: i am lori rothman. we will learn how hi our deficits could rise. melissa: we will hear from the president in just a couple minutes. we will bring you the remarks live. lori: immigration reform also on the top earner today. we will hear from business leaders on how reform should be done. lou dobbs weighs in. melissa: our very own charlie gasparino goes one-on-one with municipal analyst. that should be very interesting. lori: let's get things started with the latest addition of stocks now. the 20 you see volatility here. the fix is to the downside today on a day where we are gaining triple digits, unlike yesterday where we love triple digits. the majority of the dow components are in the green. we have economic numbers showing expanding numbers in the u.s. service. we will take a look at a longer term chart. back to you. lori: thank you, as always. melissa: breaking news. the budget office releasing the latest numbers. what we can expect our deficit to be. rich: $845 billion for this year. this is the first time in five years. let's take a look at the next ten y
CSPAN
Feb 6, 2013 7:30am EST
to face and i think much more important is the very large, long run deficit that a thing all of us want our policymakers to come together and address how we're going to do with it. i think that's unfortunate will have to be front and center in the next year coming up with that. i sure hope it is. >> let's see, i think first thing just to mind ourselves out is that the impact of it president on the short-term macro economy is almost always exaggerated. presidents can have a big impact on the economy in the medium term and long run, largely -- and while the fed has cut aid to help they can should have a much bigger short-term effect, we immediately looked to the white house and said what are you going to be about the economy right now? dr. romer and i would have to go on tv and there is points and talk about the job supports and what would happen over the course of the next month and the thing that is so frustrating note in fact not much that you were doing action has a direct result what will happen over the course of the next month. i think it is interesting how the debate has shifted.
CNN
Feb 10, 2013 10:00am PST
rate today is higher than that of frugal canada. a new congressional budget office report says deficits are returning to precrisis levels within a few years. we don't need some big and grand bargain. even moderate reform on immigration, gun control, energy policy, and most difficult, the budget, would give a powerful boost to the country beyond any specific economic impact. you see, politicians could demonstrate that they could actually govern. everyone would get some credit. and america would finally have found a center. for more on this, you can red read my column in this week's "time" magazine. let's get started. >>> so now you know my thoughts on how the white house and congress can get some work done. let's get straight to what other people think. joining me today, paul krugman, op-ed columnist for "the new york times," the author of "end this depression now" just out in paper back and on "the new york times" bestseller list. mort zuckerman, publisher of u.s. news and world report, publisher of "the daily news" and he has a few real estate holdings here and there. arianna huffingto
FOX News
Feb 10, 2013 11:00pm PST
the national institutes of health where you are hindering growth you are not delegate t going te deficit. we need more revenue and more cuts. i would like to see that in a big balanced bold proposal. short of that, we must do something to avoid the sequester. >> chris: here is what house speaker boehner said this week. >> at some point, washington, has to deal with its spending problem. i have watched them kick this can down the road for 22 years that i have been here. i have had enough of it. it's time to act. >> chris: congress woman, let's look at the numbers. are you really saying in a government that spends $3.5 trillion a year increased discretionary spending by 14% in the last four years you can't $85 billion to cut to avoid the sequester. >> we have made the cut in terms of agriculture subsidies. there are tens of billions of dollars in cuts there. and that should be balanced with eliminating subsidies for big oil. why should we lower pell grants instead of eliminating the subsidies for big oil? >> chris: why not just cut spending. 85 billion north dakota a $3.5 trillion government.
FOX News
Feb 5, 2013 1:00pm PST
of office today protected the state of the economy. they said two things. number one, the deficit this year is going to come in lower trim dollars, the first time in the obama years. and they also said we're only goal going to great growth of 1.4%. they're saying if you cut spending, you will cut the deficit. if you raise taxes, you will cut the deficit. they're saying the exact opposite to you. >> doesn't make sense. i don't think the government is going to collect all the new revenues they're protecting because when you start taxing investors, small businesses, they tend to cut back and don't have the profits to pay taxes on. the presidentes distracting from the real conversation, stewart. we have to cut spending. there are many areas of the government where we duplicate other areas, where there's wasteful spending. we need to move some things back to the states and need to make a commitment to balance our budget within ten years. if we do that, we see our markets and our economy improve almost overnight. >> quickly, jim, do you predict dealt disaster if you raise taxes? >> i think our de
CSPAN
Feb 5, 2013 8:00pm EST
we are projected to the a big deficit below one of a trillion for the first time in five years. later, the mayor of san antonio and justified -- testifies on capitol hill about immigration policy. some of the automatic spending cuts delayed in december are scheduled to take effect next month. on the next "washington journal," we will talk about those cuts and program such as medicare and social security. severna, 40 5:00 a.m. eastern. our guest is from texas, and at 8:0020, a democratic congressman, henry waxman, of california, on efforts to combat climate change. your phone calls and tweeds, "washington journal," 7:00 a.m. on c-span. president obama announced his plan to avoid automatic spending cuts known as sequestration scheduled to begin march 1. it is including tax changes. the president spoke to reporters for just over five minutes. >> good afternoon, everybody. i wanted to say a few words about the looming deadlines and decisions that we face on our budget and on our deficit, and these are decisions that will have real and lasting impacts on the strength and pace of our recove
CSPAN
Feb 9, 2013 7:00pm EST
administration did raise the deficit, bigger deficits are bad but there was a rationale for a stimulus package. but the biggest message of the book to me as the author is a paradox of the private markets ran amok but pretty effectively to put things back on track but at the end of the day you witnessed a sharp backlash you call it a big government americans are against it. but there was a reason for the government intervention the likes we have not seen since the 1930's and it would have been a preview. nonetheless you did have a backlash against the government in general, president obama, it would have been against him him, against a democratic party more generally, the federal reserve, keynesian economics which i am perfect -- prepared to defend. but what both ended the of backlash period but my favorite cartoon from the crisis appears in "the new yorker" march 2009 and it shows a page set in in medieval castle courtyard and the king said is on the chopping block. wait stop government is the solution. not the problem. [laughter] that lasted about two or three months and then people started t
FOX Business
Feb 5, 2013 9:00pm EST
for the next 10 years showing how the deficit affects the economy. rich reds and is in d.c. >> in the long term it slows us down the cbo forecast $845 billion budget deficit the first of less than $1 trillion annual deficits continue to shrink when they begin increasing deficits but in the next 10 years they will add almost $7 trillion to the national debt and 76 trillion by 20203. the national debt compared to the economy stabilizes and climbs much higher in the future. the director of the cbo says the primary culprit is health care spending. >> we still see substantial growth of health care spending over the 10 years and beyond. because of the number of people who will be eligible for medicare will be rising sharply. gerri: they expect gdp to rise this year and next year an average of 3.6% after that and then slowing. cbo expects unemployment average 8% this year and seven points six% next year that is the first time that has happened in 70 years. with the recent tax increases and spending cuts the cbo says it will cost 1.2 5% percentage points of gdp but with deficits reduce it boost growth
FOX News
Feb 5, 2013 3:00pm PST
in the hospital or rehabilitation facility. >> ahead, newest projections on the federal deficit. first we'll talk about the economy and political issues with house majority leader, eric cantor. don't go away. [ coughs ] [ angry gibberish ] i took something for my sinus, but i still have this cough. [ male announcer ] a lot of sinus products don't treat cough. they don't? [ male announcer ] nope, but alka seltzer plus severe sinus does it treats your worst sinus symptoms, plus that annoying cough. [ breathes deeply ] ♪ oh, what a relief it is! [ angry gibberish ] i'm here to pick up some cacti. it should be under stephens. the verizon share everything plan for small business. get a shareable pool of data... got enough joshua trees? ... on up to 25 devices. so you can spend less time... yea, the golden barrels... managing wireless costs and technology and more time driving your business potential. looks like we're going to need to order more agaves... ah! oh! ow! ... and more bandages. that's powerful. sharble data plus unlimited talk and text. now save $50 on a droid razr maxx hd by motorola. th
CSPAN
Feb 11, 2013 10:00am EST
. we have budget deficits that are not sustainable and how are we going to dale with these budget deficits? that's the issue before the congress that we are dealing with. we dealt wit this week. we had president obama who visited with the democratic members of the united states senate in annapolis and it was the issue we talked about the most. how are we going to deal with our budget deficit? i could talk about how we got here, the policies that led to these deficits but i'm not going to harp than because we have to figure out how we're going to move forward. i will emphasize one point. this deficit was not caused by our federal work force. you are not responsible for their deficit. \[applause] >> we could talk about the policies of going to war and how we pay for it, etc. but we have these large deficits and we need to deal wit. let me bring you up to date because the last time i was here was a little over a year ago and we were talking about the budget control act and how we had to deal with this deficit and how we were going to bring down discretionary domestic spending and how
CNBC
Feb 5, 2013 1:00pm EST
office, assumes no change in current laws, 2013 fiscal year budget deficit, $845 billion. cbo projects first time below $1 trillion since 2008, 5% of gdp, well below the peak of 2009. saying deficits decline as a percentage of gdp could dip as low as 2.4% in 2015. then they start to rise again in 2016. that 10-year-old cbo deficit projection increased overall to 4.6 trillion for the 2013 decade up from $20.2 trillion in it's previous. cbo sees real gdp growing 1.4% in 2013, the sub died growth limits businesses to hire more workers, cbo projecting unemployment rate to stay near 8% this year, also expecting unemployment rate to remain above 7.5% through 2014. debt and deficits will be larger, the cbo says, if current laws were modified and rising health care cost and increased federal health care subsidies, spending cuts and higher taxes with offset deficit increases long-term says the cbo. over and over again this report talks about those short-term budget decisions on the horizon including march 1st, the automatic spending reductions, sequester. what does congress and the white house
FOX News
Feb 10, 2013 7:00am PST
a false argument to say we have a spending problem. we have a budget deficit problem we have to address. right now we have low interest on the national debt, and it's a googood time for us to act to loather deficit. we think the deficit and the national debt are at a moral level. we think they must be reduced. we're sick and tired of paying interest on the national debt. that's 15%. that's a large percentage of the budget. >> joining us now is the anchor of "fox news sunday" chris wallace. good morning, chris. >> how are you, eric? >> eric: we heard her say that the national debt is at immoral levels. how do we fix it? what would you say? >> well, the pressure the president -- expression the president used a lot during the campaign, and you know what that means. i suspect it's very different than the republicans, but also yes, tax increases and spending cuts. no more raising of rates but there's a lot that can be done in taking away loopholes, dehe duckses on the wealthy, do away with the subsidies to the oil companies, the buffett role that anybody who makes more than a million dollars
CSPAN
Feb 5, 2013 12:00pm EST
stood here as your new governor wisconsin was facing a $3.6 billion budget deficit. property taxes had gone up 27% over the previous decade, increasing every year and the unemployment rate was 7.8%. today wisconsin has a $34 million surplus. property taxes on median value home went down each. last two years the unemployment rate, well, it is down to 6.7%. [applause] we're turning things around. we're heading in the right direction. we're moving wisconsin forward. and unlike other states we avoided significant tax increases, massive layoffs and cuts in programs like medicaid. instead we put in place long-term structural reforms that helped us balance state and local government budgets for years to come. what we did was think more about the next generation than we did about the next election and it worked. but the first time in our state's history we set machine any aside in two consecutive years for the rainy day fund. our bond rating is solid and our pension system is the only one in the country that is fully funded. [applause] we made tough but prudent decisions to get our fiscal hous
FOX Business
Feb 6, 2013 12:00am EST
the deficit through immigration reform. how did it work? president obama held meetings today with top ceos and labor leaders. we have all the latest details. >>> plus the justice department body slammed standard & poor's alleging it defrauded investors over mortgage securities rating. is s&p cooked? john eagan, ceo of eagan jones rating company joins us exclusively to react. >>> the entire electronic industry could be turned upside down. foxconn workers in china will get the first free union vote. these guys produced 40% of the world's electronics. will this push up the price of your smartphone? you might want to embrace for impact. even when they say it's not it is always about money melissa: first let's take a look at today's market moments. stocks recovered after the worst day of the year. solid u.s. and european economic data helped put the bulls back on the track. the dow briefly climbed back above the 14,000 mark and pared session highs closing up 99 points. nasdaq and s&p 500 each gained more than 1%. >>> starting off tonight with president obama's big plan. using immigration reform
MSNBC
Feb 6, 2013 1:00am PST
, the driving passion for mr. boehner in these fiscal debates is his conviction that trillion deficits are sapping the country of its energy and prosperity. trillion deficits, his driving passion. everybody loves john boehner's passion. but this is supposedly what he feels so passionate about. this is a chart of the country's budget deficit levels every year. red bars are president bush's deficits from 2008 and 2009. blue bars are president obama's deficits. those really big bars are when the whole world economy crashed, including ours. remember that? you notice how the deficit gets smaller when the bars are blue over time? see how they're getting shorter as you go to the right? today the congressional budget office released their deficit projection for 2013. so for this upcoming year, the nonpartisan cbo. according to them under president obama the deficit is slated to continue to shrink, as it has been under president obama. but the supposedly gigantic growth of those deficits is why congressional republicans are >>> in march 2007, some of the fine folks at morgan stanley were brains
ABC
Feb 10, 2013 11:35pm EST
progressive case for deficit reduction. , cres have not focused on deficit reduction when it comes to dealing with the sequester -- democrats have not focused on deficit reduction when it comes to dealing with the sequester. >> do you expect them to expand on things he talked about during the inaugural speech? including climate control -- climate change gay marriage? >> yes. those are all open questions. a lot of people are anxious to hear whether he really is aggressive and specific on climate change. this is something that was a centerpiece of his political identity, and he was criticized by the right for advocating it during his first term as he focused on other things, other big issues like healthcare and the looming fiscal crisis. a lot of pressure there. gay marriage -- i do not expect a whole lot to come out. he has said his piece about his position. i do not expect a lot of legislation on that. >> during his speech yesterday his weekly address, he hinted that there might be room for short-term solutions when it comes to sequestration. a lot of people in the dc area are interested. do
FOX Business
Feb 10, 2013 1:00am EST
the problem like we did with the tax, but yet the budget deficit will not go away under any form of the decade. it's got cuts and arbitrary and some things cutting, irs agents, yeah, going to save salary that year, but going to do less audits and more treasures to the salary. this doesn't save necessarily anything for the government if it's arbitrary cuts. you've got to be careful about the larger cuts that don't hurt revenue earnings potential of the u.s. treasury. >> john lay field. automatic cuts may not be the best way of cutting spending, but they cut spending, is that good? >> yeah, but it's nothing. brenda, we've got to look at this. what jonas is talking about is spot on. these guys ran on tax increases and what they did was extend the bush tax cuts, they ran on spending cuts and having to-- over the next decade, we're running trillion dollar deficits, by the cbo and president obama's budget in ten years from now talking about cutting 1 trillion out of that 48 trillion dollars. this is absolutely nothing. it doesn't even move the meter. >> brenda: well, steven, in the short-term this g
ABC
Feb 10, 2013 8:00am PST
will make what white house officials are describing as a progressive case for deficit reduction, that that still needs to be done even entitlement reform, and the progressive case is if these programs continue to grow out of control, they crowd out other initiatives, other priorities that are, you know, that progressives hold dear on education, on infrastructure, you know, social programs. >> well, one of the other things we'll see, congressman ellison, you and several other members of the democratic caucus will bring guests into the chamber victims of gun violence. >> that's right. as a matter of fact, young man named semi rahiman, who lost his father in a tragic event in minneapolis will join me and jim langua languagevin and our colleagues, about 30 members who are inviting victims of gun violence to be in the gallery looking forward to them being with us because they -- they're witnesses to the need for sane, sensible reform in the area of gun violence prevention. >> congressman cole, what's your sense of what can get done on that this year? gabby giffords will also be in th
FOX
Feb 10, 2013 10:00am PST
are no going to reduce the deficit. so, what we do need is more revenue, and more cuts, but i would like to see that a big, balanced, bold proposal. and short of that, we must do something to avoid the sequester. >> chris: here's what house speaker boehner said this week: >> at some point washington has to deal with its spending problem. i watched them kick the can down though road for 22 years i have been here and i have had enough of it. >> chris: congresswoman, let's look at this numbers. are you really saying in you a government that spends $3.5 trillion a year, that increased federal discretionary spending by 14%, over the last four years, you can't find 8 8 -- $85 billion to cut, to avoid sequester. >> we have cut agriculture subsidy, tense of billions of dollars in cuts there and that should be balanced with eliminating subsidy for big oil. why should we do -- why should we lower pel grants instead of eliminating the subsidies for big oil. >> chris: why not just cut spending, $85 billion in a $3.5 trillion government. >> let's back up from -- with all due respect to the speaker, what he
Current
Feb 5, 2013 3:00pm PST
believe there is a better way to reduce the deficit. the president's sequester should be replaced with spending cuts and reforms. that will start us on the path to balancing the budget in ten years. there is no balance in terms of revenue. the question is are congress and the white house headed for yet another big showdown. to come to us from washington to answer that question is karen bass from california. thank you for coming to the war room. >> thank you for having me again. >> jennifer: you bet. so the republicans are saying that obama's plan as he announced today are dead on arrival. are they serious? is this just posturing before they reach a deal? >> i certainly hope it is because the fact of the matter is we're three weeks away from the hammer falling. what the president has called for is for the republican majority to act responsibly. why on earth would they want to send our economy into another recession. if we can't come to a grand deal by march 1st. what the president has said and the democratic leadership hats said is okay do another short-term proposal but make it ba
CSPAN
Feb 5, 2013 1:00pm EST
of the administration, the deficit tripled, the previous record high deficit in this country, to $1.4 trillion. $1.3 trillion in f.y. 2010. $1.3 trillion in 2011, $1.2 trillion in f.y. 2012. and, mr. speaker, there's no plan that the administration has produced to get us from where we are, fiscal irresponsibility, to a point in the future of fiscal responsibility. mr. speaker, we've been doing our part here in the house, we've been proud to work together across the aisle in order to pass budgets that tackle those hard challenges that are ahead of us. if you go and read the president's comments, mr. speaker, you'll see that he recognized the challenges are hard. the question is, are we going to deal with those or not? i hold here, mr. speaker, a speech that the president made to the democratic national convention on september 6, 2012. where he said this, i will use the money that we're no longer spending on war to pay down our debt and put more people back to work. and my notes here said it was followed by extended cheers and applause. i suspect my friend from massachusetts supports that spirit who
CSPAN
Feb 6, 2013 7:00am EST
" is next. host: the federal deficit is expected to dip below one trillion. the news comes as republicans and democrats face a march 1 deadline to avoid billions in across-the-board spending cuts. the pentagon announced it will offer benefits to same-sex couples. in the senate is wrapping up work on the violence against women act. and the house will vote on a bill requiring the president to offer a plan to balance the federal budget in 10 years. good morning. we begin with your take on the leaked white paper from the white house just fine drone strikes on u.s. citizens overseas. nbc news reported on the memo monday night and it has gotten lots of reaction in washington. what are your thoughts? call -- we want to get your thoughts on social media as well on twitter or facebook. or send us an e-mail. we will get your thoughts in a moment. first, josh gerstein is joining us on the phone. here's your headline -- what was this memo? guest: this is a white paper that looks like it was derived from some confidential legal opinions that the opinions -- opinions that the justice department wrote t
MSNBC
Feb 10, 2013 5:00am PST
unless congress can agree on a broader deficit reduction package. president obama says if congress fails to agree on such a package as seems likely he wants to delay the cuts to give lawmakers even more time to hand route a deal. >> if congress can't act immediately on a bigger package, if they can't get a bigger package done by the time the sequester is scheduled to go into effect, then i believe that they should at least pass a smaller package of spending cuts and tax reforms that would delay the economically damaging effecting on f the sequester for a few more months until congress finds a way to replace these cuts with a smarter solution. >> on the same day the president spoke, the congressional budget office confirmed what a vast body of empirical evidence has already told us. austerity has been a considerabn economic growth. quote, gdp will grow slowly in 2013 because of fiscal tightening. without that it would probably improve by 1.5%. economic output will remain lower until 2017 making a full decade of lost economic growth from a financial crash. so with the sequester looming we
FOX News
Feb 10, 2013 8:00am PST
are worried about continued government spending and the deficit. when asked the question, president obama says the government doesn't have a spending problem. do you think it does? 83% say yes and 14% say no. more say cutting government spending will likely strengthen the u.s. economy. that's 73% to 15%. will it? look at the clicking national debt clock. it's like a las vegas slot machine. with us, one of the u.s. senators will it attend the state of the union. angus king, independent of maine. >> great to be with you. i saw you had john bolton on. i don't think you should have eand i on the same program. i've been many for him in airports. >> i'm glad you're here. in dealing with the deficit, dealing with this spending, we just saw the clock, going and going. what do you think the president should say? what would you like to hear tuesday? >> let's talk about the spending separately. what i would like to hear is proposals for strengthening the economy. the debt and deficit problem is also a problem of economic growth. we don't have too many economic problems that a few extra points of gdp grow
FOX News
Feb 4, 2013 3:00pm PST
money to reduce the deficit and will likely focus on a familiar target. white house correspondent wendell goaler tells us how that is going over. >> as the president headed to minnesota to talk about gun violence, republicans on capitol hill tried to keep the nation's attention on fiscal matters. >> we are having trouble in large part because spending is a problem. it is what is chasing jobs overseas and causing much anxiety about our future. >> sunday in a presuper bowl interview with cbs's scott kelly mr. obama said this year's changes shouldn't be the last. >> there is no doubt we need additional revenue coupled with smart spending reductions in order to bring down the deficit. he is not talking raising rates but closing loopholes especially those making money from investment pay a lower tax rate than income salaried or hourly wage earn ers. >> the average person doesn't have access to cayman island reports. they don't have access to interest income where they pay a much lower rate on billions of dollars they have earned. >> mr. obama says the only way to continue investing in
Search Results 0 to 49 of about 515 (some duplicates have been removed)